China to Raise Export Tariff for Rare Metals in January

Chinese Ministry of Finance announced the government raises the export tariffs for rare metals, including rare earths, yttrium, scandium and other compounds, from current 10% to 25% effective in January 2008. International rare metal prices seem to surge up more due to the severer export regulation by the country where more than 90% of global rare metals are produced. The government will raise the tariffs to 25% for yttrium oxide, dysprosium oxide, terbium oxide and europium oxide and to 15% for lanthanum oxide and neodymium oxide from current 10%.The tariffs will be raised to 10% for tungsten trioxide and ammonium paratungstate from current 5% and to 20% for ferrotungsten from current 10%, while be kept unchanged at 5% for tungsten carbide. The government set the tariff for ammonium ingot at 5% as well. Export tariffs will be newly introduced for silicon, magnesium ingot and scrap at 10%.